States must compete for private investment – NESG

The Nigerian Economic Summit Group (NESG) has called for greater competition among state governments in Nigeria to attract private investment. The group argues that states should focus on improving governance, strengthening institutions, and creating business-friendly environments instead of relying on fiscal incentives. NESG suggests that by doing so, states can spread economic opportunities beyond major cities and unlock the productive potential of different regions.

The NESG warns that Nigeria's economic activity remains heavily concentrated in a few states and cities, such as Lagos, Abuja, Kano, and Port Harcourt, while large parts of the country remain economically marginalised. They argue that this concentration of investment and economic activity is creating significant disparities among states and limiting Nigeria's overall economic potential.

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